Multiple Choice
If consumers spend more money on coffee than on sugar,then the demand for a pound of coffee is probably _________________ than is the demand for a pound sugar of because ________________.
A) less price elastic; coffee requires a larger portion of consumers' incomes.
B) more price elastic; coffee requires a larger portion of consumers' incomes.
C) less price elastic; people will take a longer time to adjust to the change in its price.
D) more price elastic; people will take a longer time to adjust to the change in its price
Correct Answer:

Verified
Correct Answer:
Verified
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